DOW JONES NEWSWIRES

IAC/InterActiveCorp (IACI) swung to a second-quarter loss on restructuring charges related to its planned breakup into five separate companies.

The owner of TV shopping channel HSN, Ticketmaster and Web search engine Ask.com reported a net loss of $421.6 million, or $1.51 a share, compared with year-earlier net income of $94.6 million, or 31 cents a share.

Excluding expenses relating to the spinoffs and write-downs, earnings rose to 35 cents from 34 cents. Revenue increased 7% to $1.6 billion.

The mean estimates of analysts according to Thomson Reuters were for earnings of 31 cents on revenue of $1.6 billion.

For the businesses that will become the new IAC, including Internet services such as Ask.com and Match.com, revenue rose 11% as earnings improved 3%.

The retailing business, to be named HSN, reported revenue growth of 2% with earnings down 20%.

Ticketmaster's sales increased 30% and earnings climbed 5%, as the ticket seller continues to battle with eBay Inc.'s (EBAY) StubHub.

Tree.com, the operator of online lender and real-estate servicer LendingTree, had sales tumble 47% as its loss widened as it tries to deal with the collapse in the mortgage industry.

Interval Leisure Group Inc., a time-share exchange dealer, reported revenue up 20% while profits inched up 1%.

IAC is currently working on new Web sites to launch after the spinoffs, including a personal-finance site to be produced with Dow Jones & Co., publisher of this newswire.

Shares of the Internet conglomerate closed at $17.95 on Tuesday and there was no premarket trading.

-By David Benoit, Dow Jones Newswires; 201-938-2472; david.benoit@dowjones.com

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  (END) Dow Jones Newswires
  07-30-08 0812ET
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